Ciena Close to the 200 Day

Published on Thursday, 09 September 2010 04:40 Written by Christian Paolinetti

New York, September 9th (TradersHuddle.com) - Shares of Ciena Corporation (NASDAQ:CIEN) traded at $14.12 close to its 200 day moving average currently set at $14.0316. Ciena's price action is just above this key support level, and it will certainly raise traders attention, as a possible trading opportunity.

Ciena Corporation (NASDAQ:CIEN) develops and markets communications network platforms. The company offers broadband access, data and optical networking platforms, software tools, and global network services support worldwide telecom and cable/MSO services providers.

Latest price action range, defined by a peaks and troughs algorithm places calculated support at $12.365 and calculated resistance at $13.12. These levels will certainly be watched by traders, as they provide insight into the latest price dynamics defined by Ciena stock.

Traders wanting to establish a position on Ciena will be looking at the price action for evidence of buying near the 200 day moving average, and opening a position as close as possible to this important level. Also traders will be looking at the latest price action, via the stocks current range previously defined for insights of other key levels that might affect their upside or downside.